How Much Do You Stand to Make as a Private Investigator?

When choosing a career as a Private Investigator, one should ask themselves whether it is a rewarding area of expertise or whether it is worth it. However, the more important question to ask is ‘How much salary can a private investigator expect to make?’

When entering this field of work, some of the things one should expect or take into consideration include the following.

Career Goals

You need to establish your career goals before embarking on becoming a Private detective.

Will your experience be used to launch you onto your next career path?

Are you going to use the experience you have acquired while working under a certain company to open up your own company in the end? This will not limit the amount of income stand to make.

Do you plan on working under other companies for the entire duration of your career? This will restrict the amount of money you make severely.

It is essential to determine your actions early on as it will help you ascertain the different paths you will follow early on during your career.

Money earned Versus Work done

Most Private Investigators do not have to worry about families as much or have to worry about working too little or too much. What you need to primarily consider is that making less or more money under a company’s employment is going to take a toll on you in one way or the other. One of your goals could be to make enough to be able to pay all your bills comfortably, spend sufficient time with your family, and watch your children grow before embarking on growing your business.

Private Investigator Salary

The annual median salary for Private Investigators as reported by the United States Bureau of Labor Statistics or BLS was $45,610 annually as of 2015 with the top 10% earning as much as $85,190 annually or even more. Generally, private Investigator’s salaries depend on the geographic area or region in which they work, the Private Investigator’s specialty, or the employer.

The Bureau of Labor Statistics also reported on a projected job growth of 5% from 2014-2024 for Private investigators because of increased litigation, the need for protection of confidential information and more particularly an increased demand for security.

If you have decided to venture into private investigation, you may have also foreseen ownership of a personal business. Despite it being scary to own a business there are endless opportunities. There is no restriction as to how much owners of Private Investigation agencies can make as a typical agency could charge anything from $55 for an hour to over $100 per hour. The assignment will determine how much is charged, how good you are and what you specialize in.